Assignment Entrepreneurship and Business plan final part Essay


Desk of Items


Stand of Contents4

1 . Launch: 5

2 . Strengths: five

2 . 1 . Leadership5

2 . 2 . Internal locus of control: 5

2 . 3. Need for achievement6

3. Disadvantages: 7

a few. 1 . Risk-taker7

3. installment payments on your Innovativeness7

three or more. 3. Proactivity8

4. Conclusion: 9

References: 10

Personal reflection in entrepreneurial characteristics

1 . Introduction:

Over the years, a number of attempts had been made in describing the term entrepreneurship. Surprisingly there may be still no universally recognized definition. Meredith et approach 1982, cited by Kirby 2003 specify entrepreneurs as " individuals who have the ability to find and examine business opportunities; to collect the necessary resources to take advantage of all of them; and to start appropriate actions to ensure success. ” Harwood (1982), quoted simply by Chell, Haworth and Brearley (1991) further more defines that an entrepreneur might also be the founder of a new company venture since he " takes motivation, assumes extensive autonomy inside the organization and management resources, shares in the asset risk, shares within an uncertain budgetary profit, and innovates” 2 . Strengths:

2 . 1 . Command

" Entrepreneurship is merely a type of leadership that occurs within a specific setting” as it is identified by Esperto (2003), putting an emphasis on the importance to be a leader to be a successful business owner. In addition , a great entrepreneurial head must be cognitively ambidextrous, secondly must have a social, environmental, and economic responsibility and sustainability, and ultimately has to be home and socially aware. (Greenberg, McKone-Sweet and Wilson 2011). Example: My own leadership abilities as well as my personal ability to business lead have substantially improved during the last three years. I have been assigned the role of group head from my personal peers numerous times as a result of my capability to communicate successfully with other group members and to organize work efficiently. As a result we now have managed to accomplish our desired goals efficiently with no facing virtually any major difficulties.

2 . 2 . Interior locus of control:

In respect to Rotter (1996) locus of control is when an individual perceives the result of an event within or perhaps beyond his control. An " internal” believes that he can impact the outcome while the " external” believes that we now have forces beyond his control, such as luck that have an effect on the outcome. A very good relationship forms between entrepreneurial behaviour and internal concentrate of the control when put together. Brockhaus (1980) exploration was based upon entrepreneurs that started up a brand new venture and it was continue to successful 3 years after. Entrepreneurs that were regarded as successful shown a higher positionnement of control than those entrepreneurs that firms closed down. Although generally in most of the research the locus of control was assessed with Rotter's (1966) I-E scale. This could have been a possible reason for inaccurate results. More recent empirical studies from Bonnett and Furnham (1991) making use of the economic locus of control scale possess endorsed similar results. The benefits have shown that students that became associated with running a company under the English Young Enterprise Scheme tend to have a higher inside locus and stronger idea in hard work from individuals who choose to never get involved. Case in point: As someone with dyslexia I have selected not to let it restrain my academic studies. By functioning harder for longer periods of time and keeping my business throughout the year, I use managed to accomplish my desired goals. This has had a direct expression on my grades in the initial and second year; currently on a 2: 1 .

2 . 3. Need for achievement

In respect to McClelland (1965) a person which has a high dependence on achievement " is more confident, enjoys acquiring carefully determined risks, studies his environment actively, and is very much thinking about concrete procedures of how well he is doing”. The need for large achievement can be described as personality trait of an...

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Brockhaus, Ur. H. В (1980). В Psychological and environmental factors which usually distinguish the successful through the unsuccessful entrepreneur: A longitudinal study. В В Academy of Management Finest Paper Actions, pp. 368-372.

Bull, My spouse and i. and Willard, G. Electronic. (1993) " Towards a theory of entrepreneurship”, Log of Business Venturing, Vol. 8 Number 3, pp. 183-195.

Burns, P. (2008) Corporate Entrepreneurship: Building the Entrepreneurial Organization. 2nd edn. Basingstoke: PALGRAVE MACMILLAN.

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Chell, E., Haworth, J. M

Chell, E. (2000) " Towards researching the ' 'opportunisticentrepreneur ' ': A social constructionist approach and research agenda”, European Log of Work and Organizational Psychology, Vol. on the lookout for, No . one particular, pp. 63-80.

Dyer, L. H., Gregensen, H. M. and Christensen, C. (2008) " BUSINESSPERSON BEHAVIORS, OPPORTUNITY RECOGNITION, AS WELL AS THE ORIGINS OF INNOVATIVE VENTURES”, Strategic Entrepreneurship Journal, Vol. 2, pp. 317–338.

Businessperson (2004) Mark Zuckerberg. Available at: (accessed on: 25/10/2013).

Greenberg, Deb., McKone-Sweet, K. and Wilson, J. They would. (2011) The newest Entrepreneurial Innovator: Developing Market leaders Who Form Social & Economic Prospect. California: Berrett-Koehler Publishers, Inc.

Kickul, L. and Gundry, L., (2002) " Resources for Strategic Advantage: The Proactive Entrepreneurial Personality and Small Firm Innovation”, Log of Small Business Management, Volume. 40, Number 2, pp. 85-97.

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Esperto, R. P. (2003) " Entrepreneurship and leadership: prevalent trends and common threads”, Human Resource Management Review, Vol. 13, No . a couple of, pp. 303-327.

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